Waste Heat Recovery Market: The Future Impact Of The Propellants And Restraints On The Market

In terms of the end-user, the waste heat recovery market is broadly segmented into petroleum refining, chemical, cement, metal production and casting, natural gas compression, paper and pulp, and others. The cement segment is expected to be the fastest growing segment in the worldwide market for waste heat recovery, growing at a CAGR of 9.3% during the forecast period.

GLOBAL WASTE HEAT RECOVERY MARKET

• By Application – Steam and Power Generation, Pre-Heating and Others
• By End-User – Petroleum Refining, Chemical, Cement, Metal Production and Casting, Natural Gas Compression, Paper and Pulp, and Others
• By Region – North America, Europe, Asia-Pacific, and Rest of the World

North America is the second largest market in the waste heat recovery market. By 2022, the North American market for waste heat recovery is expected to reach $17.6 billion. The major reasons behind the growth of the market in the North American region are good economic return and fuel efficiency and investment for replacement of traditional systems for technological improvement. The distinct governments in North America are focusing towards the development of alternative energy sources, which are renewable and sustainable. The U.S. is the major revenue contributor to the North American waste heat recovery industry. The increasing compliance for environmental sustainability in the region is supporting the growth of the North American waste heat recovery industry.

Market Outlook

3.1 Introduction               

3.2 Opportunities in the Global Waste Heat Recovery Market    

3.2.1 Massive unexplored waste heat recovery market across the globe               

3.2.2 High rate of depletion of fossil fuels and increasing demand for reduction of greenhouse gases     

3.3 Factor Driving the Growth of the Market and its Impact on Market Forecast

3.3.1 Increased government initiatives and stringent regulations              

3.3.2 Increasing energy and electricity cost          

3.3.3 Technological advancements and increasing investment by large scale industries for the installation and development of waste heat recovery systems              

3.4 Impact analysis of drivers on market forecast             

3.5 Factor Hindering the Growth of the Market and its Impact on Market Forecast           

3.5.1 Economies of scale and long payback period            

3.5.2 Complexities involved with the recovery of waste heat, and its storage and transportation               

3.6 Impact analysis of restraints on market forecast      

The economic development of any country across the world is vastly dependent on its industrial growth. Energy and electricity are the crucial factors in determining the operational cost of an industry; therefore, all industries require energy and electricity at reasonable prices. However, a trend of increasing prices of input energy (such as coal, electricity, oil and gas) has been witnessed across the globe. The distinct countries across the globe are still struggling to recover from worldwide economic slowdown. 

TABLE 1 SPECIFIC  PRIMARY AND SECONDARY SOURCES USED FOR THIS PUBLICATION   

TABLE 2 GLOBAL WASTE HEAT RECOVERY MARKET SNAPSHOT   

TABLE 3 DRIVERS FOR THE MARKET: IMPACT ANALYSIS 

TABLE 4 RESTRAINTS FOR THE MARKET: IMPACT ANALYSIS          

TABLE 5 GLOBAL WASTE HEAT RECOVERY MARKET, BY APPLICATION, $M (2012 – 2015)  

TABLE 6 GLOBAL WASTE HEAT RECOVERY MARKET, BY APPLICATION, $M (2016 – 2022)  

TABLE 7 GLOBAL WASTE HEAT RECOVERY MARKET, BY END-USER, $M (2012 – 2015)        

TABLE 8 GLOBAL WASTE HEAT RECOVERY MARKET, BY END-USER, $M (2016 – 2022)        

TABLE 9 GLOBAL WASTE HEAT RECOVERY MARKET, BY REGION, $M (2012 – 2015)             

TABLE 10 GLOBAL WASTE HEAT RECOVERY MARKET, BY REGION, $M (2016 – 2022)          

The market is growing mainly due to the massive unexplored market for waste heat recovery across the globe, and high rate of depletion of fossil fuels and increasing demand for reduction of greenhouse gases.

Some of the key companies operating in the waste heat recovery market include Siemens AG, General Electric Company, Amec Foster Wheeler PLC, Harbin Electric International Company Ltd., Dongfang Electric Corporation, Mitsubishi Hitachi Power Systems, ABB Group, China Energy Recovery, and Ormat Technologie.